Reliance Industries Subsidiary, Reliance Enterprise Intelligence, Ceases to be Step-Down Wholly Owned Subsidiary

Reliance Enterprise Intelligence Limited (REIL), a step-down wholly owned subsidiary of Reliance Industries Ltd, has ceased to be a step-down wholly owned subsidiary and has become a step-down subsidiary of the Company. This change is due to the allotment of 85,31,75,000 equity shares by REIL to two entities: Reliance Intelligence Limited (a wholly owned subsidiary of the Company) and Facebook Overseas, Inc. (a wholly owned subsidiary of Meta Platforms, Inc.). Post the allotment, Reliance Intelligence holds 70% of the total equity capital of REIL and Facebook holds the remaining 30%. All necessary approvals have been obtained for the said investment. The transaction between REIL and Facebook is not a related party transaction, while the transaction between REIL and Reliance Intelligence is a related party transaction and is on arm’s length basis. None of the Company’s promoter / promoter group / group companies have any interest in the above transaction.